Question

Which group suffered most from the formation of a monopoly?

unions
politicians
small businesses
large corporations

Answer 1

Small businesses typically suffer the most from the formation of a monopoly. Monopolies can dominate the market, controlling prices and limiting competition, which makes it difficult for smaller businesses to survive and thrive. They often lack the resources to compete with a monopolistic entity that can leverage economies of scale, vast marketing budgets, and exclusive access to distribution channels. This can lead to reduced innovation, fewer choices for consumers, and negative impacts on the overall economy.